1
BUSINESS STUDIES
GRADE 12
NOVEMBER EXAM
PAPER 2
2026.
This document has been compiled to help Grade 12 learners
systematically prepare for the National Senior Certificate
(NSC) Business Studies November Examination 2026 – Paper 2.
The content is based on official DBE and SACAI question
papers from 2021–2025, as well as the NCC and EC exams, to ensure that you have the most complete
and reliable answers that match the latest exam paper structure and memorandum guidelines.
Each section has been compiled to help you understand how questions in Paper 2 have been repeated
and adapted over the years, and how you can formulate your answers logically, completely and concisely.
Where the same questions appear in different papers, they have been combined to provide you with a
clear, consolidated study guide. Use these notes as a study guide, not as a substitute for your own work.
Do the calculations and sample questions yourself before reading the answers – this will deepen your
understanding and improve your preparation.
Important: These November notes form part of your complete preparation for the final Business
Studies examination and should be used together with your previous study notes.
Where questions or content from previous November examinations have already been covered in the
Preliminary Examination Paper 2 notes, this has been clearly indicated in these notes. In such cases, the
content has not been repeated unnecessarily. You should revise the relevant section in your Preliminary
Examination notes.
Important: For the November examination, you must still revise all your work from Term 1 to Term 3,
including the content studied for the Preliminary Examination.
Use the following for your final preparation:
Term 1 notes + Term 2 notes + Term 3/Preliminary Examination notes + these November notes
If you do not have any of the previous notes, contact .
Juffrou Ansie
© 2026 Juffrou Ansie Study Notes. All rights reserved. This material may not be reproduced or distributed without written permission.
, 2
CONTENTS
Section A: Business Opportunities 4
Management and leadership 4
Investment: insurance & Investment: Securities/opportunities 7
INSURANCE 8
UNEMPLOYMENT INSURANCE FUND (UIF) 11
INVESTMENTS 12
Johannesburg Stock Exchange/JSE 13
Forms of ownership 15
PRESENTATIONS 17
Section B: Business Roles 18
Ethics and professionalism 18
CREATIVE THINKING AND PROBLEM SOLVING 19
Social Responsibility and Corporate Citizenship Corporate Social Responsibility (CSR) and Corporate
Social Investment (CSI) 21
HUMAN RIGHTS, INCLUSIVITY AND ENVIRONMENTAL ISSUES 22
Section C: Essay questions 23
SOCIAL RESPONSIBILITY, CSR AND CSI 23
INVESTMENT: SECURITIES 25
Short questions
Limited liability Losses are limited to the amount the owner invested in the business.
The owner's personal assets are protected from the debts of the
business. Applies to companies that have a separate entity/personality.
Unlimited liability The liability of the owner to pay debts/claims is not limited to the
business. The owner's personal assets can be seized to pay for the debts
of the business. Applicable to a sole proprietorship and partnership as
they do not have a separate legal entity/personality.
Democratic leadership Employees are invited to be part of the decision-making process
style
Autocratic leadership style Employees are not involved in the decision-making process.
Laissez-faire/Free rein The leader allows experienced and trusted employees to make
leadership style decisions in pursuit of the organization's goals.
© 2026 Juffrou Ansie Study Notes. All rights reserved. This material may not be reproduced or distributed without written permission.
, 3
Charismatic leadership The leader uses charisma and charm to influence employees.
style
Transactional leadership Use rewards and punishments as incentives to influence employee
style behaviour.
Leadership theories Guide leaders on the different leadership styles that can be applied or
used.
Situational leadership In these leadership theories, the leader applies different leadership
theories styles depending on different situations.
Transformation/transition Best suited during a period of drastic/radical change in an organisation
management Leadership
theories
Johannesburg Stock The market that deals with the buying and selling of shares in listed
Exchange (JSE) companies.
Investors The people who save money with the expectation of making a profit.
Dividend An amount of money that a company pays to its shareholders from its
profits.
Short-term investment Investment for less than one year
Long-term investment The duration/period of investment is more than three years.
Liquidation The sale of the assets of a company to pay creditors.
Interest The amount of money that investors earn as return on/compensation
for investments in bank deposits and loans
Fixed rate The interest rate remains the same for the duration of the investment
period.
Ethical behaviour Acting according to a set of values that are morally acceptable in society
Business ethics The set of values of a business, displayed by its managers, executives,
and employees. These values must be morally acceptable by society,
and within established business codes
Professionalism Describes the internationally accepted standards and expectations that
businesses and society have of people's behaviour and levels of
competence in the workplace. It is a broader concept than ethics and
includes aspects such as appearance, attitude, loyalty, etc.
Corporate governance The exercise of ethical and effective leadership by the individuals
responsible for managing the business. They are expected to ensure
good performance, effective governance, sustainability and
to deliver profitability.
Annual General Meeting A meeting of a company attended by all the shareholders that takes
(AGM) place once a year.
Unprofessional practices When people/the business do not act within accepted standards and
expectations, it is unprofessional behaviour.
© 2026 Juffrou Ansie Study Notes. All rights reserved. This material may not be reproduced or distributed without written permission.
BUSINESS STUDIES
GRADE 12
NOVEMBER EXAM
PAPER 2
2026.
This document has been compiled to help Grade 12 learners
systematically prepare for the National Senior Certificate
(NSC) Business Studies November Examination 2026 – Paper 2.
The content is based on official DBE and SACAI question
papers from 2021–2025, as well as the NCC and EC exams, to ensure that you have the most complete
and reliable answers that match the latest exam paper structure and memorandum guidelines.
Each section has been compiled to help you understand how questions in Paper 2 have been repeated
and adapted over the years, and how you can formulate your answers logically, completely and concisely.
Where the same questions appear in different papers, they have been combined to provide you with a
clear, consolidated study guide. Use these notes as a study guide, not as a substitute for your own work.
Do the calculations and sample questions yourself before reading the answers – this will deepen your
understanding and improve your preparation.
Important: These November notes form part of your complete preparation for the final Business
Studies examination and should be used together with your previous study notes.
Where questions or content from previous November examinations have already been covered in the
Preliminary Examination Paper 2 notes, this has been clearly indicated in these notes. In such cases, the
content has not been repeated unnecessarily. You should revise the relevant section in your Preliminary
Examination notes.
Important: For the November examination, you must still revise all your work from Term 1 to Term 3,
including the content studied for the Preliminary Examination.
Use the following for your final preparation:
Term 1 notes + Term 2 notes + Term 3/Preliminary Examination notes + these November notes
If you do not have any of the previous notes, contact .
Juffrou Ansie
© 2026 Juffrou Ansie Study Notes. All rights reserved. This material may not be reproduced or distributed without written permission.
, 2
CONTENTS
Section A: Business Opportunities 4
Management and leadership 4
Investment: insurance & Investment: Securities/opportunities 7
INSURANCE 8
UNEMPLOYMENT INSURANCE FUND (UIF) 11
INVESTMENTS 12
Johannesburg Stock Exchange/JSE 13
Forms of ownership 15
PRESENTATIONS 17
Section B: Business Roles 18
Ethics and professionalism 18
CREATIVE THINKING AND PROBLEM SOLVING 19
Social Responsibility and Corporate Citizenship Corporate Social Responsibility (CSR) and Corporate
Social Investment (CSI) 21
HUMAN RIGHTS, INCLUSIVITY AND ENVIRONMENTAL ISSUES 22
Section C: Essay questions 23
SOCIAL RESPONSIBILITY, CSR AND CSI 23
INVESTMENT: SECURITIES 25
Short questions
Limited liability Losses are limited to the amount the owner invested in the business.
The owner's personal assets are protected from the debts of the
business. Applies to companies that have a separate entity/personality.
Unlimited liability The liability of the owner to pay debts/claims is not limited to the
business. The owner's personal assets can be seized to pay for the debts
of the business. Applicable to a sole proprietorship and partnership as
they do not have a separate legal entity/personality.
Democratic leadership Employees are invited to be part of the decision-making process
style
Autocratic leadership style Employees are not involved in the decision-making process.
Laissez-faire/Free rein The leader allows experienced and trusted employees to make
leadership style decisions in pursuit of the organization's goals.
© 2026 Juffrou Ansie Study Notes. All rights reserved. This material may not be reproduced or distributed without written permission.
, 3
Charismatic leadership The leader uses charisma and charm to influence employees.
style
Transactional leadership Use rewards and punishments as incentives to influence employee
style behaviour.
Leadership theories Guide leaders on the different leadership styles that can be applied or
used.
Situational leadership In these leadership theories, the leader applies different leadership
theories styles depending on different situations.
Transformation/transition Best suited during a period of drastic/radical change in an organisation
management Leadership
theories
Johannesburg Stock The market that deals with the buying and selling of shares in listed
Exchange (JSE) companies.
Investors The people who save money with the expectation of making a profit.
Dividend An amount of money that a company pays to its shareholders from its
profits.
Short-term investment Investment for less than one year
Long-term investment The duration/period of investment is more than three years.
Liquidation The sale of the assets of a company to pay creditors.
Interest The amount of money that investors earn as return on/compensation
for investments in bank deposits and loans
Fixed rate The interest rate remains the same for the duration of the investment
period.
Ethical behaviour Acting according to a set of values that are morally acceptable in society
Business ethics The set of values of a business, displayed by its managers, executives,
and employees. These values must be morally acceptable by society,
and within established business codes
Professionalism Describes the internationally accepted standards and expectations that
businesses and society have of people's behaviour and levels of
competence in the workplace. It is a broader concept than ethics and
includes aspects such as appearance, attitude, loyalty, etc.
Corporate governance The exercise of ethical and effective leadership by the individuals
responsible for managing the business. They are expected to ensure
good performance, effective governance, sustainability and
to deliver profitability.
Annual General Meeting A meeting of a company attended by all the shareholders that takes
(AGM) place once a year.
Unprofessional practices When people/the business do not act within accepted standards and
expectations, it is unprofessional behaviour.
© 2026 Juffrou Ansie Study Notes. All rights reserved. This material may not be reproduced or distributed without written permission.
